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PosAm adapts IT systems of Slovak Telekom to SEPA standard

News
Published 14.2.2014

SEPA (Single Euro Payment Area) is a standard by which EU member states simplified bank transfers and which enables customers and companies to manage their own finances in euros in favour of anyone located in the euro area, using a single bank account and a single set of payment instruments. The adoption of the SEPA standard meant service providers had to adapt their information systems. In the company Slovak Telekom, the transition to SEPA required the conversion of account numbers to the IBAN format, the establishment of a new procedure for processing direct debits and the setting of communication with banks.

The modifications to the key systems SAP ERP and SAP RMCA for Slovak Telekom were carried out by specialists from the ERP division of PosAm. As part of the project, the conversion of account numbers to IBAN format was resolved, new forms of processing direct debits were elaborated – SEPA Direct Debit (SDD) and communication with banks was secured using the XML format in line with ISO 20022 (including the specifics of individual banks). The project, started in August 2013, was successfully launched into operation on 1 February 2014, the official starting date for the SEPA standard throughout the EU. From that date, customers of Slovak Telekom can make use of the benefits that SEPA has to offer. They can pay for services and at the same time receive payments (e.g. credit notes) in euros, without limitation, in any country of the EU (plus Island, Norway, Lichtenstein, Switzerland, Monaco) in the same way and under the same conditions.

The ERP division of PosAm provides professional services focusing on corporate ERP systems on a SAP platform. The expert capacities in PosAm encompass a wide range of company processes supported by respective SAP software.

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